Cost accountants often estimate overhead based on the level of production. At the XYZ Company, they have collected information on overhead expenses and units produced at different plants and want to estimate a regression equation to predict future overhead. The data is available as given in the table below. Develop the regression equation for the cost accountants using Least Square Method. Predict overhead when 50 units are produced.
Cost accountants often estimate overhead based on the level of production. At the XYZ Company, they have collected information on overhead expenses and units produced at different plants and want to estimate a regression equation to predict future overhead. The data is available as given in the table below. Develop the regression equation for the cost accountants using Least Square Method. Predict overhead when 50 units are produced.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Problem 1P
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Transcribed Image Text:Q3
Cost accountants often estimate overhead based on the level of production. At the XYZ Company,
they have collected information on overhead expenses and units produced at different plants and
want to estimate a regression equation to predict future overhead. The data is available as given in
the table below.
Develop the regression equation for the cost accountants using Least Square Method.
Predict overhead when 50 units are produced.
a)
b)
Overhead
Units
52
54
179
158
260
65
143
47
268
68
161
51
342
60
116
42
49
52
153
178
Q4
A sample of
44 wealth-market mutual funds was chosen on February 1, 2016,
and the average annual rate of return over the past 30 days was found to be
3.35
percent, and the sample standard deviation was
0.522 percent. A year earlier, a
sample of
50 wealth-market funds showed an average rate of return of
4.48
percent, and the sample standard deviation was
0.96 percent. Is it reasonable to
conclude (at a=0.01) that wealth-market interest rates declined during 2015?
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